Top 5 Best Shopify Profit Tracker Apps [February, 2024]

Top 5 Best Shopify Profit Tracker Apps [March, 2024]

By Giles Thomas | Last updated December 14, 2023

This guide helps ecommerce store owners to compare and find the best profit tracker app for Shopify. Profit tracker apps are popular for ecommerce businesses that want to look after their business financial health and optimize it. However, with the variety of Shopify apps for profit tracking, it can be challenging to find the ideal app for store owners’ individual needs.

To help ecommerce store owners make the right choice, the attributes of available Shopify apps have been assessed considering: features, price, free trial availability, app store rating and free app options. 

This guide compares five companies for merchants to review and find the optimal profit tracker app for their needs. To help them make an informed decision, a quick comparison table of the best profit tracker Shopify apps is shared below, followed by in-depth reviews and frequently asked questions.

Quick comparison of the best Shopify Profit Tracker apps

#App NameDeveloper NamePricingRatingFree TrialImageAction
1BeProfit – Profit AnalyticsBeProfit$99/month4.9/5 ⭐️yesimageGet app
2TrueProfit: Profit AnalyticsTrueProfit$25/month4.9/5 ⭐️yesimageGet app
3SimplyCost – Profit TrackingZapfor Apps$4.99/month4.8/5 ⭐️yesimageGet app
4Polar AnalyticsPolar Analytics$300/month4.9/5 ⭐️yesimageGet app
5Triple Whale AnalyticsTriple Whale$129/month4.6/5 ⭐️noimageGet app

Top Shopify Profit Tracker apps reviewed

Table of contents:

How to Find The Best Profit Tracker Shopify App?

 

These five profit tracker apps for Shopify are ranked based on the following criteria: 

  • Features 
  • Price
  • Rating on the Shopify app store
  • Free trial availability
  • Free app options
  • Compatibility with other top apps
  • Number of apps the app provider operates 
  • Pros and cons
  • Built for Shopify badge 
  • Reviews and assessment by AcquireConvert

 

What are Shopify Profit Tracker apps?

 

Shopify Profit Tracker apps are tools for Shopify store owners looking to closely monitor and optimize their financial health. These apps provide a detailed view of key financial metrics such as revenue, costs, and profit margins. They enable real-time tracking of profits, allowing for swift adjustments in strategy when needed. Features typically include management of expenses and tracking of the cost of goods sold (COGS), which is crucial for accurately determining profitability. Additionally, these apps often analyze advertising spend to assess its efficiency, helping to maximize return on investment. By consolidating financial data and offering actionable insights, Shopify Profit Tracker apps assist store owners in enhancing pricing strategies, reducing unnecessary expenditures, and ultimately driving greater profitability.

 

How do I track my profit on Shopify?

 

To track profit on Shopify, you can leverage a mix of Shopify’s built-in analytics and third-party Profit Tracker apps. Initially, Shopify Analytics offers basic insights into sales and returns, but it might not cover all expenses. You should manually input the Cost of Goods Sold (COGS) for each product in Shopify to understand direct costs. Additionally, account for other expenses like shipping, marketing, staff salaries, and various operational costs. For a more comprehensive view, installing a Profit Tracker app is advisable. These apps integrate sales data with COGS and additional expenses to automatically calculate profit. Regularly reviewing these profit reports is essential to gauge financial performance and make informed business decisions.

 

Best way to keep track of profits?

 

Keeping track of profit is crucial for the health of any business, and achieving this effectively requires a blend of meticulous financial record-keeping and the smart use of technology. Firstly, maintaining accurate records of all financial transactions, including income, expenses, cost of goods sold (COGS), and taxes is essential. Implementing reliable accounting software can streamline this process, automating the tracking of income and expenses while offering insightful financial reports. Regular analysis of these reports, particularly profit and loss statements, is key to understanding your business’s financial status. For those running online businesses, like Shopify stores, leveraging specialized profit tracking tools or apps can provide real-time insights into profitability. These tools typically integrate with your sales data, offering a more nuanced view of financial performance. In cases where financial tracking and analysis become complex, consulting a financial advisor or accountant can be a wise decision, ensuring that your approach to profit tracking is both efficient and effective.

 

Conclusion: Best Shopify Profit Tracker Apps

 

It requires time and effort to compare and evaluate features of the various different profit tracker Shopify apps to find the ideal option. 

Shopify store owners must evaluate relevant information to make the optimal choice for their needs. 

This guide does the challenging work for merchants by comparing and evaluating the top choices for different profit tracker Shopify apps. The results of our analysis of the best profit tracker Shopify apps are listed below: